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Chapter 1
Ch. 1 Marketing
22
Marketing
10th Grade
02/03/2015

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Term

Marketing


Definition
Is the creation and maintanance of satisfying exchange realationsips.
Term
Self-Sufficient
Definition
You don't rely on others for the things you need to survive.
Term
Bartering
Definition
Trade with others to obtain what is needed.
Term
Specialization of Labor
Definition
Produce larger amounts of product rather than many different products.
Term
Money System
Definition
established the use of currency as a reconized medium of exchange.
Term
Central Market
Definition
Is a location where people bring theri products to be exchanged.
Term
Merchandising
Definition
Products produced or manufactured by others for sale to customer.
Term
Operations 
Definition
Th eprimary functino of a business and keep it operating efficiently.
Term
Acct. and Finance
Definition
plans and manages finacial resources and maintains records and information related to the business.
Term
Management
Definition
Involves developing, implementing, and evaluating the plans and activities of a business.
Term
Marketing Concept
Definition
Is using the needs of customwers as the primary focus during the planning, production, pricing, distribution, and promotion of a product pr service.
Term
Market
Definition
Unique group of prospective customers
Term
Marketing Mix
Definition
The blending of four marketing elements.
Term
Product
Definition
Anything offered from a marketing business.
Term
Distribution
Definition
Includes the locations and methods used to make the product available to customers.
Term
Price
Definition
The amount a customers pays
Term
Promotion
Definition
Includes the methods and info communicated to encourage customers to purchase and to increase their satifaction.
Term
Realationship Marketing
Definition
focuses on developing loyal customers.
Term
Employee Empowerment
Definition
Is an aproach to customer service
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